The MTN Ghana Foundation has supported thirty-three (33) former Trokosi girls who graduated from the Baptist Vocational Training Centre in Frankadua, Eastern Region.
The beneficiaries received certificates in Catering, Hair Dressing, Dress Making, and Cosmetology. In addition to funding their training, the MTN Ghana Foundation provided them with seed capital and start-up equipment, including gas cylinders, ovens, sewing machines, fabrics, sewing kits, hair dryers, washing basins, hair relaxers, towels, roller stands, and hair products. This support is to enable the graduates to setup their
businesses immediately after graduation.
Commenting on the reason for the investment, Adwoa Afriyie Wiafe, Chief Corporate Services and Sustainability Officer of MTN Ghana, said, “We hope that our support will aid in their reintegration into society, reduce their dependency on their families and ultimately help them break the cycle of poverty. She further stated, “It is our hope that they will become self-reliant by using the skills they have acquired to enhance their livelihood and that of their communities.”
Rev. Emmanuel Obani, Head of the Baptist Vocational Training Centre, praised the MTN Ghana Foundation for its assistance to the graduates. He said, “We are thankful to the MTN Ghana Foundation for supporting our graduates. This timely assistance will greatly benefit the beneficiaries in their career paths.”
This is the second time the MTN Ghana Foundation has supported the training and reintegration of former Trokosi girls. In 2021, the Foundation assisted 15 former Trokosi girls with training, equipment, and seed capital. The success of the first project helped in extending more support to the girls this year.
Since its inception in 2007, the MTN Ghana Foundation has executed over 168 major projects across Health, Education, and Economic Empowerment, positively impacting more than 4 million people throughout Ghana.
End
Media Contacts:
Adwoa Afriyie Wiafe
Chief Corporate Services and Sustainability Officer
Email: MTNGhana.MediaOffice@mtn.com
Another State-Owned Agency that has since 2017 elevated Ghana to the forefront of the African and global gold industry is the Precious Minerals Marketing Company (PMMC). Established in 1963, PMMC was mandated to purchase and market Ghana’s gold and diamond resources. In 1965, the Parliament of Ghana formally endorsed PMMC as a state-owned enterprise.
The Company now operates as the Government’s National Assayer with the sole mandate of assaying all gold that leaves the country.
Nana Akwasi Awuah
The Company is also the sole implementing agency for the Kimberley Process Certification Scheme (KPCS), the global regime for the trade in diamonds. Jewellery production is also a core function of the Company, operating under the subsidiary name PMMC Jewellery Ltd (PJL).
The Company is located in the Diamond House building in Accra, which is situated on the Kinbu Road, adjacent to the Registrar-General’s Department and next to the Ministry of Foreign Affairs.
Achievements
In 2018, Ghana was adjudged the best gold producer in Africa.
The country also placed 6th globally in the same category that year. And in 2023, Ghana once again emerged as the top gold producer in Africa, surpassing South Africa and other major players.
Challenges
Before Nana Akwasi Awuah assumed the role of Managing Director in 2021, PMMC was facing significant financial challenges, including debts owed to local partners totaling over 70 million Ghana Cedis and an additional amount of about USD$5 million owed to international creditors.
Strategy
In a documentary produced by the State Interests and Governance Authority (SIGA) on State-Owned Enterprises (SOEs), the PMMC Managing Director revealed that the Company has diligently worked to settle these outstanding obligations.
Nana Awuah noted that PMMC has successfully paid off the foreign debt and has established a plan to liquidate the local debt through an arrangement with the Receiver.
The Managing Director attributed PMMC’s remarkable turnaround to the implementation of new reforms spearheaded by the Vice President of the Republic, which have been instrumental in transforming the company into a profitable state agency. These strategic interventions have enabled PMMC to overcome its past financial challenges and emerge as a thriving enterprise.
Technology
Nana Akwasi Awuah disclosed that the Company has made strategic investments in cutting-edge 3D technology, which has enabled the company to design and produce high-quality gold and diamond jewellery that can compete with the best in the world.
This technological advancement has been a game-changer, empowering PJL to manufacture intricate jewelry and other gold-based products with precision and efficiency. He also disclosed that the Company has taken advantage of the digitalization drive led by the Vice President to develop an E-Commerce website in order to market and sell its premium jewellery online.
Working Environment
Nana Awuah emphasized PMMC’s commitment to employee welfare, ensuring that no staff member is owed salary arrears or long service payments like in previous years before 2017.
He added that those who have demonstrated remarkable efficiency over the years, whether it be 5, 10, 15, or 20 years of service, have been rewarded with motivational sums in accordance with the Collective Bargaining Agreement (CBA).
This strategic approach, he explained, is aimed at stimulating growth and profits through a highly motivated and engaged workforce.
Exploits and Refinery
The CEO credited the Government’s decision to restructure PMMC as a key factor in the company’s success.
This restructuring has culminated in the opening of a new state-of-the-art refinery by the Vice President, where about 400 kilograms of gold are expected to be processed each day. This initiative is part of the Government’s broader strategy to ensure that Ghana mines and refines its gold deposits for export and the manufacturing of jewelry thereby promoting full value beneficiation of the mineral resource and also reducing the need for Ghanaians to travel abroad to purchase such products.
Corporate Social Responsibilities
Nana Awuah highlighted PMMC’s active engagement in corporate social responsibility (CSR) initiatives, noting that the company provides support to healthcare agencies, NGOs, and outfits focused on breast cancer awareness campaigns and other health campaigns. Additionally, PMMC has been supporting the student front with funding for educational projects including scholarships and other incentives to needy and vulnerable students through a partnership with student organizations such as the National Union of Ghana Students (NUGS), University Students Association of Ghana (USAG) and others.
Vision
The Managing Director expressed his vision to oversee the continued reforms and growth of PMMC, ensuring that the Company can obtain the necessary international certification and to enable Ghana’s jewellery penetrate the international market. He also emphasized the company’s collaboration with government agencies to crack down on illegal activities in the mining sector, ensuring that the gold it uses in production are responsibly sourced free from conflict, child labour and environmental degradation.
Commendation of the Board, Management, and Staff
Nana Awuah also expressed appreciation to the Board, Management and Staff of the Company for the continued support and contribution to the success story of PMMC. He stated that their collective efforts have been instrumental in the company’s remarkable turnaround and transformation into a profitable state-owned enterprise.
“Our team has been the driving force behind PMMC’s success,” the CEO emphasized. “Their unwavering commitment, hard work, and shared vision have been crucial in overcoming the challenges we faced and positioning the company for long-term growth and profitability.”
Nana Awuah’s commendation of his team’s dedication underscores the pivotal role they have played in elevating PMMC to become a leading player in Ghana’s mining sector and a source of national pride.
What would be the total cost for the implementation of the 24-hour economy? and what would be the significant effects of the 24-hour economic policy at the macroeconomics level, and microeconomics level?
How would the 24-hour economy help Ghana to reduce the exchange rate from $1 to 2ghc or $1 to 1ghc?
How would the 24-hour economy reduce Ghana’s debt from 767 billion Cedis to the debt level of 120 billion Cedis within 2025-2029?
What would be the legal framework supporting the 24-hour economic policy?, and what salary adjustments would the government introduced for the Public Sector Employees working under the 24-hour economy?
Razak KoJo Opoku
How would the villages, towns and communities without electricity benefit from the 24-hour economy?
How would the farmers and their workers benefit from the 24 hour economy?
Mr.John Dramani Mahama
How would Ghanaians benefit from the Ministries, Departments and Agencies of government that closes from work at exactly 5pm?
How would the limited number of Police and Security agencies sustain the 24-hour economy especially in the criminal zones, villages, towns and communities without electricity?
If there is a come back of DUMSOR, how would the 24-hour economy be implemented across the Country?
How would the aged, people with disabilities, babies, children, and the vulnerable in society benefit directly from the 24-hour economy as Citizens of Ghana?
What would be the correlation between the 24-hour economy and digitalization?
How would the 24-hour economy be successful without One District One Factory Programme of Akufo-Addo’s government?
How would the 24-hour economy be successful without Bawumia’s digital economic Policy initiatives?
What would be the significant contribution of the 24-hour economy to Ghana’s Gross Domestic Product(GDP) within 4years?
What would be the significant contribution of the 24-hour economy to the reduction of Banks interest rates on loans?
What would be the significant contribution of the 24-hour economy to the reduction of the Inflation rates?
What would be the significant contribution of the 24-hour economy to the attainment of the Sustainable Development Goals within 4years?
How would the Judiciary, lawyers, and the various Courts across the Country benefit from the 24-hour economy?
How would the marketwomen, traders, and the general private sector business community benefits DIRECTLY from the 24-hour economy?
Can the 24-hour economy address all the socioeconomic problems of Ghana?, and how feasible would that be practically?
How would the 24-hour economy benefit Public & Private Universities and other tertiary institutions in the Country?, and what would be the impact on students especially pregnant and nursing mothers?
How would the 24-hour economy protect the environment and natural resources of the State?
Practically, how would the 24-hour economy helps to reduce government’s borrowing from both the domestic and international markets?
How would the 24-hour economy address the structural problems of Ghana’s economy?, and help Ghana to pay all its internal and external debts?
Respectfully, I hope John Mahama and the NDC members would be able to sincerely provide answers supported by Data Projections and best practices around the world to the 24 questions on their proposed 24-hour economy within 24 hours.
The MTN Ghana Foundation is excited to announce the successful on boarding of 150 beneficiaries for the second edition of its MTN Enterprise Support Program. These beneficiaries wereselected through a rigorous process that included pitch competitions and interviews conducted in Central, Eastern, Volta, and Greater Accra regions of Ghana.
The MTN Foundation’s Enterprise Support Program is a transformative initiative aimed at empowering Ghanaian entrepreneurs. This year, the program has supported 39 differently abled individuals, 61 women, and 50 young people, all of whom run small businesses.
A group picture of the Beneficiaries
Beneficiaries received a package that included comprehensive business training and seed capital ranging from GHC 10,000 to GHC 20,000. Participants will also receive training in bookkeeping, costing, and pricing, branding, sales and marketing, financial literacy, digital marketing, and customer service, all tailored to meet their specific needs.
Adwoa Afriyie Wiafe
This program is part of the MTN Ghana Foundation’s commitment to fostering the growth of small and medium-sized enterprises (SMEs), which play a vital role in driving Ghana’s economy. It specifically targets youth, women, and differently abled persons who are entrepreneurs as part of its diversity and inclusion program.
During the on boarding ceremony for beneficiaries in the Eastern Region, Adwoa Afriyie Wiafe, the Chief Corporate Services and Sustainability Officer of MTN Ghana, stated, “Today, we are here to continue our efforts to promote inclusive and sustainable growth for entrepreneurs through the MTN SME Support Program.
This initiative, led by the MTN Ghana Foundation, aims to contribute to ongoing efforts to bring the nation closer to achieving Sustainable Development Goal 9, which focuses on Industry, Innovation, and Infrastructure.”
The selected beneficiaries expressed gratitude to MTN for believing in them and providing capital for their businesses. They committed to utilizing the funds wisely to expand their ventures.
Lawrence Inkoom, a sandal maker, shared his experience: “I was struggling to find support to invest in my business, but help was not forthcoming. With the support of the MTN Ghana Foundation, I can now produce more sandals for the market.”
Christine Dekator, a differently abled beneficiary from the Volta region expressed her gratitude to MTN Ghana Foundation for support. She said “the funds will help expand her cassava farm and gari processing business”.
Memuna Ahmed, a Palm oil processor from the Eastern region, was so excited to receive this support from MTN Ghana Foundation. She said “This support will relieve me of most of the challenges I am currently facing in my business”.
The MTN Ghana Foundation launched the Enterprise Support Program as part of a commitment made during MTN Ghana’s 25th-anniversary celebrations to boost the sector. The program aims to support approximately 500 micro, small, and medium enterprises (MSMEs), consisting of youth, women, and differently abled entrepreneurs over a period of five years. By providing these SMEs with the necessary tools, resources, and mentorship, the initiative seeks to create a more vibrant and resilient business landscape.
Following the launch of this initiative in partnership with Innohub in 2023, a total of 140 businesses were selected from the Greater Accra, Ashanti, and Western regions.
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Media Contacts:
Adwoa Wiafe
Chief Corporate services and sustainability Officer
The Vice President and Presidential Candidate of the NPP, Dr Mahamudu Bawumia, has launched myCreditScore, a personalised credit reference and scoring system for Ghanaians.
Backed by the Central Bank, this Credit Scoring System offers individual Ghanaians the opportunity to demonstrate their creditworthiness transparently, helping them access credit more easily.
Through this system, individuals who display good credit behaviour and earn high scores will be rewarded by financial institutions, enabling them to access larger credit amounts and benefit from their financial responsibility.
At the launch event in Accra on Thursday, Dr Bawumia described the credit scoring system as a “momentous occasion” and a “step forward in building a dynamic credit economy for Ghana and all Ghanaians.”
He noted, “It is a significant milestone in Ghana’s journey towards a financially inclusive and empowered society,” adding that the launch of myCreditScore represents “yet another chapter in the nation’s ambitious journey towards financial inclusion.”
A Solution to Longstanding Lending Challenge
Dr Bawumia, who spearheaded the project, said that myCreditScore introduces a critical tool that transforms access to credit in Ghana and addresses longstanding challenges related to lending and borrowing.
“With this system, the financial sector will now have a reliable way to assess the creditworthiness of individuals, a change that is expected to help address high lending rates.
“The absence of a credit information system has increased lending risks, leading financial institutions to offer less credit,” Dr Bawumia noted.
“A credit reporting system in Ghana will provide timely, accurate, and up-to-date information on debt profiles and borrowers’ repayment history, yielding numerous benefits
The Vice President and Presidential Candidate of the NPP, Dr Mahamudu Bawumia, has launched myCreditScore, a personalised credit reference and scoring system for Ghanaians.
Backed by the Central Bank, this Credit Scoring System offers individual Ghanaians the opportunity to demonstrate their creditworthiness transparently, helping them access credit more easily.
Through this system, individuals who display good credit behaviour and earn high scores will be rewarded by financial institutions, enabling them to access larger credit amounts and benefit from their financial responsibility.
At the launch event in Accra on Thursday, Dr Bawumia described the credit scoring system as a “momentous occasion” and a “step forward in building a dynamic credit economy for Ghana and all Ghanaians.”
He noted, “It is a significant milestone in Ghana’s journey towards a financially inclusive and empowered society,” adding that the launch of myCreditScore represents “yet another chapter in the nation’s ambitious journey towards financial inclusion.”
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A Solution to Longstanding Lending Challenges
Dr Bawumia, who spearheaded the project, said that myCreditScore introduces a critical tool that transforms access to credit in Ghana and addresses longstanding challenges related to lending and borrowing.
“With this system, the financial sector will now have a reliable way to assess the creditworthiness of individuals, a change that is expected to help address high lending rates.
“The absence of a credit information system has increased lending risks, leading financial institutions to offer less credit,” Dr Bawumia noted.
“A credit reporting system in Ghana will provide timely, accurate, and up-to-date information on debt profiles and borrowers’ repayment history, yielding numerous benefits.”
He added, “This initiative comes at a crucial time for Ghana’s financial sector. Recent data from CEIC Data shows that, as of August 2024, Ghana’s non-performing loan (NPL) rate stands at 24.3%, with a peak of 26.7% earlier this year.”
High NPL levels have indicated challenges within Ghana’s financial ecosystem, and the lack of a standardised, transparent credit scoring system has increased risks for lenders and limited financial inclusion for borrowers.
“The introduction of myCreditScore is a pivotal step toward addressing these challenges, aligning Ghana’s credit ecosystem with international standards, and promoting a culture of responsible borrowing,” Dr Bawumia added.
The Vice President highlighted positive outcomes from a pilot project, saying, “Results from the myCreditScore pilot show a stark improvement, achieving an NPL ratio of just 1.4%, a remarkable contrast to the 20.7% average reported in 2023 by the Bank of Ghana.”
He expressed optimism that myCreditScore will enable fairer and more consistent evaluations of creditworthiness, reduce defaults significantly, and boost confidence among financial institutions, ultimately expanding access to credit for individuals and businesses alike.
“This initiative reflects a broader commitment to sustainable economic growth, where financial stability and trust in credit practices play foundational roles,” he remarked.
“With systems like myCreditScore, Ghana is positioned to transition into a financial ecosystem that facilitates responsible borrowing and lending practices, driving economic resilience and inclusive growth for all stakeholders.”
A 17-Year Journey Fulfilled
Dr Bawumia expressed satisfaction at realising a personalised credit scoring system for Ghana, recalling that the journey began in 2007 during his tenure as Deputy Governor of the Bank of Ghana, following the passing of the Credit Reporting Act by Parliament. However, the project did not progress further after a government change in 2009.
“The purpose of the Credit Reporting Act (Act 726) is to provide a legal and regulatory framework for credit reporting in Ghana,” he explained.
“The availability of credit information is widely recognised as essential for the development and maintenance of an effective financial sector, as borrowers often have a natural incentive not to disclose negative information about themselves.”
An Effective Partnership with the Private Sector
Dr Bawumia acknowledged that the launch of myCreditScore represents another success story of effective government-private sector collaboration.
He expressed gratitude to the Bank of Ghana and other stakeholders for supporting the project’s launch and commended the ingenuity of Ghana’s private sector, which he said has developed all the digital initiatives he has championed.
“My thanks go to the Governor of the Bank of Ghana, the management and staff, for making this possible. This credit scoring initiative you have licensed and which we are launching today is a major achievement, and Ghana will forever be grateful.”
He added, “I am also thrilled that this initiative is a homegrown Ghanaian private-sector effort. We will continue to support our private sector in championing such initiatives in digital and other sectors.”
He concluded with optimism: “Let us move forward with purpose, knowing that together we’re building a Ghana where financial inclusion is real, dreams are within reach, and every Ghanaian has the chance to achieve financial security and prosperity. It is possible!”Source:myjoyonline.com
The New Patriotic Party (NPP) Presidential Candidate for 2024 general election, Dr Mahamudu Bawumia, has pledged to develop an airport city in Manhyia North, modelled after the Airport City in Accra if elected president.
Concluding the third day of his Ashanti Region tour on Wednesday, Dr Bawumia addressed supporters, expressing his commitment to lead this initiative, drawing on his previous experience with the Kumasi and Tamale airport projects.
Dr.Mahamudu Bawumia addressing stakeholders
“We want to establish an Airport City here in Manhyia North so that you will gain some benefits. I led the negotiations concerning this airport with the UK government… So just as we have an Airport City in Accra, we want to have one here in Kumasi.
He encouraged voters to support his presidential bid, adding, “If you vote for me, by the grace of God, I can be president for eight years, and I will come back here and give accounts of my work.
“Promote me and let me be the president. Give me the steer and let me drive,” he said.By: Hanson Agyemang
